Corporate Social Responsibility (CSR)

In News 

• The Centre has now mandated corporate India to furnish a comprehensive report on their Corporate Social Responsibility (CSR) activities, specifying an 11-page form (CSR-2) for this purpose. 
• It is expected to give the government a comprehensive picture of the CSR funds spent and activities carried out.

About Corporate Social Responsibility (CSR) 

• It is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. 
• CSR is generally understood as being the way through which a company achieves a balance of economic, environmental and social imperatives (“Triple-Bottom-Line-  Approach”), while at the same time addressing the expectations of shareholders and stakeholders.

Image Courtesy:csr.gov.in

• CSR  concept in India is governed by Section 135 of the Companies Act, 2013 and Rules made thereunder wherein the criteria has been provided for assessing the CSR eligibility of a company, Implementation and Reporting of their CSR Policies.

Image Courtesy: BS

Initiatives in this context 

• The National Corporate Social Responsibility Data Portal is an initiative by the Ministry of Corporate Affairs, Government of India to establish a platform to disseminate Corporate Social Responsibility related data and information filed by the companies registered with it.
• Ministry of Corporate Affairs, Government of India has instituted National Corporate Social Responsibility (CSR) Awards to recognize companies that have made a positive impact on society through their innovative & sustainable CSR initiatives. 

Source:BS